Intertitle: What issue will case a cri­sis for the next President?

Robert Reich: The next President is prob­a­bly going to have to deal with some very dif­fi­cult eco­nom­ic times. The hous­ing mar­ket is start­ing to look like a bub­ble. There’s a pos­si­bil­i­ty of that bub­ble burst­ing. We’ve been there before. 

Secondly, the mid­dle class doesn’t have enough mon­ey in their pockets—nor, obvi­ous­ly, do the poor—to turn around and buy all of the things that the econ­o­my is capa­ble of pro­duc­ing. So there is inad­e­quate aggre­gate demand. That also cre­ates huge fragili­ty in the econ­o­my, and the glob­al econ­o­my is not in very good shape. 

Intertitle: What city should the next President vis­it?

Reich: Flint, Michigan; Detroit; Baltimore; Oakland. I mean, places where poor and work­ing class and aver­age peo­ple live. Also, just put Berkeley, California on the list some­where, just because I’d like to take him or her out to lunch.

Further Reference

Introductory post about this series at Slate.


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